EX-99.31 32 ex99-31.htm INFINITY INDIVIDUAL EXCEPTION REPORT
 

Angel Oak Mortgage Trust I, LLC ABS-15G

Exhibit 99.31

 

Infinity Loan ID Loan Number Loan Number 2 Borrower Last Name Property State Note Date Loan Purpose TPR QM ATR Status Initial Overall Loan Grade Final Overall Loan Grade Exception Category Exception Subcategory Exception Code Final Exception Status Initial Exception Grade Final Exception Grade Exception Exception Detail Follow-up Comments (Exception Response) Exception Conclusion Comments Compensating Factors Curable Status Loan Status Review Date Cleared Date Cured Date Exception Date
XXX 2024130580   XXX XXX XXX XXX Not Covered/Exempt 2 2 Credit Guidelines XXX Waived 2 W * Loan does not conform to program guidelines (Lvl W) Fair rental value coverage on policy is $XXX because it is capped at  XXX% of dwelling coverage ($XXX) as per the insurer. Requirement is XXX times rent used to calculate DSCR ($XXX which equals $XXX

A copy of an exception approval letter is available in the loan file.		     DSCR: XXX DSCR exceeds the guideline requirement of XXX.

FICO: XXX FICO exceeds the guideline requirement of XXX.

Reserves: The XXX months of available reserves are more than the guideline requirement of XXX months.

   QC Complete XXX     XXX
XXX 2024130590   XXX XXX XXX XXX Not Covered/Exempt 3 1 Credit Doc Issue XXX Resolved 3 R * Note is missing or unexecuted (Lvl R) Provide note document as it is  missing in the package.


Resolved XXX - Received Note document, condition Resolved		 Resolved XXX - Received Note document, condition Resolved Resolved XXX - Received Note document, condition Resolved     QC Complete XXX XXX XXX XXX
XXX 2024130590   XXX XXX XXX XXX Not Covered/Exempt 3 1 Credit Credit XXX Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Missing signed loan docs package in the loan file.


Resolved XXX - Received Signed Doc package for all closing doc, condition resolved.		 Resolved XXX - Received Signed Doc package for all closing doc, condition resolved. Resolved XXX - Received Signed Doc package for all closing doc, condition resolved.     QC Complete XXX XXX XXX XXX
XXX 2024130590   XXX XXX XXX XXX Not Covered/Exempt 3 1 Credit Other Disclosures XXX Resolved 3 R * Missing Required Disclosures (Lvl R) Missing Final Closing Settlement Statement from the loan package.


Resolved XXX - Received  Final HUD Document, condition resolved.		 Resolved XXX - Received  Final XXX Document, condition resolved. Resolved XXX - Received  Final HUD Document, condition resolved.     QC Complete XXX XXX XXX XXX
XXX 2024130590   XXX XXX XXX XXX Not Covered/Exempt 3 1 Credit Doc Issue XXX Resolved 3 R * Mortgage missing / unexecuted (Lvl R) Provide mortgage document as it is missing in the package.


Resolved XXX - Received Mortgage document, condition Resolved		 Resolved XXX - Received Mortgage document, condition Resolved Resolved XXX - Received Mortgage document, condition Resolved     QC Complete XXX XXX XXX XXX
XXX 2024130598   XXX XXX XXX XXX Not Covered/Exempt 3 1 Credit Credit XXX Resolved 3 R * Required Documentation Missing or Incomplete  (Lvl R) Please provide updated Final loan docs, XXX Internal approval and DSCR & Reserves Calc with change in address from XXX to XXX.

XXX: The copy of final docs resolved. Still missing XXX Internal approval and DSCR & Reserves Calc with change in address from XXX to XXX.


Resolved XXX - Received XXX internal approval & DSCR & Reserves Calc with change in address from XXX to XXX, Condition resolved.		 Resolved XXX - Received Mofin internal approval & DSCR & Reserves Calc with change in address from XXX to XXX, Condition resolved. Resolved XXX - Received Mofin internal approval & DSCR & Reserves Calc with change in address from XXX to XXX, Condition resolved.     QC Complete XXX XXX XXX XXX
XXX 2024130607   XXX XXX XXX XXX Not Covered/Exempt 2 2 Credit Guidelines XXX Waived 2 W * Loan does not conform to program guidelines (Lvl W) Gross living area XXX square foot does not meet the minimum requirement of XXX square foot.

A copy of an exception approval letter is available in the loan file.		     FICO: XXX FICO exceeds the guideline requirement of XXX.

DSCR: XXX DSCR exceeds the guideline requirement of XXX.

Reserves: The XXX months of available reserves are more than the guideline requirement of XXX months.		   QC Complete XXX     XXX
XXX 2024130017   XXX XXX XXX XXX Non-QM/Compliant 4 2 Credit Guidelines XXX Resolved 3 R * Income documentation does not meet guidelines (Lvl R) Provide additional documentation to verify monthly income as stated on 1003 and 1008. Provide bank statement for XXX #XXX the month XXX and XXX (XXX &XXX - XXX).

Received bank statement #XXX for the month of XXX, XXX and XXX		 Received bank statement #XXX for the month of XXX and XXX Received bank statement #XXX for the month of XXX, XXX and XXX     QC Complete XXX XXX XXX XXX
XXX 2024130017   XXX XXX XXX XXX Non-QM/Compliant 4 2 Compliance Compliance XXX Cured 4 C * State High Cost or Predatory Lending Law Failure (Lvl C) This loan failed the high-cost mortgage points and fees threshold test due breach in point and fee threshold

Received refund issued to borrower for increase in fee along with PC CD		 Received refund issued to borrower for increase in fee along with XXX Received refund issued to borrower for increase in fee along with XXX     QC Complete XXX     XXX
XXX 2024130017   XXX XXX XXX XXX Non-QM/Compliant 4 2 Compliance Compliance XXX Resolved 4 R * XXX Higher Price Mortgage Loan (Lvl R) 12 CFR § 1026.35(a)(1) Using the greater of the disclosed XXX and the calculated XXX, the loan is a higher-priced mortgage loan, as defined in Regulation Z

Higher-Priced Mortgage Loan Test: Charged  XXX% Allowed XXX% Over by +XXX%

This loan is compliant with regulation XXX.		 This loan is compliant with regulation XXX.
 This loan is compliant with regulation XXX.
     QC Complete XXX XXX XXX XXX